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March 13, 2017 Hope Thru Hair claims ‘socially conscious’ Business prize at WMBB

On the final day of the BB Business stream at the WMBB Summer Program, three start-ups prepared to present their pitch to an esteemed panel of judges.

Judges

Their ideas formed while learning how to create an enterprise that will help people. Something to give back to the community. All three groups went about it totally differently.

Hope

Hope Thru Hair – Kiarra, Madison & Makayla

This pitch actually won the “prize”. Basically it was like Shark Tank. Ever seen that show? Mark Cuban, owner of the Dallas Mavericks, decides whether to buy your startup idea. This pitch won the day.

Hope Thru hair seeks to address unemployment and homelessness, employing young people and empowering them as individuals. People get trained as hairdressers before moving onto proper paid roles in other companies.

Judges: This model appears sustainable and well positioned for growth. It’s strength is that it builds skills and capacity for people, freeing them to find their own work, while making room for new hairdressers to take their own training.

Revenue: Selling products and hair dressing.

Income streams: Government grants and sponsorship.

Kairos Sports

Kairos Sports – Chelsea, Olivia, Sam & Tom

This team created a business to provide elite athletic training programs, focusing on 15 to 19 year olds from regional areas.

Kairos Sports, named for the Greek god of opportunity, is targeted at young people from less fortunate backgrounds. The aim is helping them develop toward a potential future in professional sports.

They plan to launch a trial program in Broken Hill, which is affected by high unemployment.

Like all three entries, this is a social enterprise business that aims to become profitable. This would include paid engagements, sports carnivals and training camps.

Judges: Their path towards profitability is a little more challenging than that pitched by Hope Thru Hair.

Revenue: Fees for training programs. Percentage share of future athletic contracts.

Income streams: Government grants and sponsorship.

Sew Good

Sew Good – Gemma, Tiarni & Kurt

Focused on addressing youth unemployment, just like Hope Thru Hair and Kairos Sports. They would employ experienced sewers and train young people in the craft.

Their idea is clothing with a message. Buying their shirts is making a statement in support of the young people who produce them. Social media campaigns would boost the visibility of the brand, creating unique value for their shirts.

They seek to pitch and price themselves against General Pants and Industrie – rather than K Mart and Target.

Look Good, Feel Good, Do Good

Judges: The cost of setting up a clothing business is overly prohibitive. $10,000 to $30,000+ is required for industrial machines to produce merchandise. Add this to the material costs.

Also clothing isn’t overly profitable, especially at their stated price point of around $30 for a shirt. It would need to be much higher to be sustainable.

Revenue: Sales of clothing

Income streams: Government grants to assist start up. Online sales. Partnerships with retail outlets.

Nick Hollins
is the editor of A•STAR